The FATF warns of the criminal risks of stablecoins, and the industry claims it is not an anti-encryption stance.

According to ChainCatcher news and a report by Cointelegraph, the Financial Action Task Force (FATF) recently issued a warning regarding the rise of criminal activities involving stablecoins. Executives from blockchain analytics company Chainalysis and Asset Reality stated that this move aims to strengthen regulation rather than restrict industry development. Data shows that by 2025, stablecoins will account for 63% of the total illegal encryption transactions. Chainalysis policy advisors pointed out that the FATF calls for countries to unify regulatory standards for stablecoin issuers, implement real-time monitoring, and strengthen international cooperation. The co-founder of Asset Reality emphasized that traditional financial anti-money laundering standards need to be applied to the digital asset space. In 2023, Tether froze $225 million in USDT related to fraud at the request of the United States.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate app
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)